Wall Street Zen Upgrades Evoke Pharma (NASDAQ:EVOK) to Hold

Evoke Pharma (NASDAQ:EVOK) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a research report issued on Saturday.

Several other analysts have also weighed in on the company. Laidlaw lowered Evoke Pharma from a “buy” rating to a “hold” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Evoke Pharma in a research note on Monday, December 15th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Evoke Pharma presently has a consensus rating of “Reduce”.

Evoke Pharma Price Performance

Shares of NASDAQ:EVOK opened at $11.00 on Friday. Evoke Pharma has a 1 year low of $1.94 and a 1 year high of $11.00. The stock has a market capitalization of $18.92 million, a price-to-earnings ratio of -5.31 and a beta of -0.15. The company’s 50 day simple moving average is $8.89 and its 200 day simple moving average is $6.04.

Evoke Pharma (NASDAQ:EVOK) last released its earnings results on Thursday, November 13th. The specialty pharmaceutical company reported ($0.45) earnings per share for the quarter, hitting the consensus estimate of ($0.45). Evoke Pharma had a negative return on equity of 101.40% and a negative net margin of 36.23%.The firm had revenue of $4.28 million during the quarter, compared to analysts’ expectations of $4.33 million.

Insider Activity at Evoke Pharma

In other news, major shareholder Roger M. Klein sold 9,000 shares of Evoke Pharma stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $10.65, for a total transaction of $95,850.00. Following the sale, the insider directly owned 29,000 shares of the company’s stock, valued at approximately $308,850. This trade represents a 23.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.29% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Evoke Pharma stock. National Wealth Management Group LLC bought a new position in shares of Evoke Pharma, Inc. (NASDAQ:EVOK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 80,130 shares of the specialty pharmaceutical company’s stock, valued at approximately $398,000. National Wealth Management Group LLC owned 5.14% of Evoke Pharma at the end of the most recent reporting period.

Evoke Pharma Company Profile

Evoke Pharma, Inc is a clinical-stage specialty pharmaceutical company focused on developing novel therapies for gastrointestinal (GI) motility disorders. The company’s lead product candidate, relamorelin, is a selective ghrelin receptor agonist designed to restore gastric motility and accelerate gastric emptying in conditions such as diabetic gastroparesis. Relamorelin has been granted orphan drug designation by the U.S. Food and Drug Administration and has demonstrated proof-of-concept activity in multiple clinical trials, positioning it as a promising treatment for patients with impaired GI function.

In addition to relamorelin, Evoke Pharma is advancing earlier-stage programs targeting metabolic and GI conditions, leveraging its expertise in peptide chemistry and receptor pharmacology.